Business Context and Reporting Period
This Form 8-K filing by Structured Products Corp. on behalf of the CorTS Trust for PECO Energy Capital Trust III reports a distribution event for the period ending April 30, 2014. The trust holds 7.38% Capital Securities due April 6, 2028, issued by PECO Energy Company as underlying Term Assets.
Key Financial Metrics
| Metric | Value |
|---|---|
| Distribution Date | April 30, 2014 |
| Aggregate Principal of Term Assets | $27,500,000 |
| Outstanding Class A Certificates | 1,014,750 |
| Aggregate Certificate Principal Balance | $25,368,750 |
| Distribution per $25 Certificate (Principal) | $0.000000 |
| Distribution per $25 Certificate (Interest) | $1.000000 |
| Total Distribution per $25 Certificate | $1.000000 |
| Unpaid Interest | $0.000000 |
| Trustee Fees Paid from Proceeds | $0.00 |
Material Changes
The filing does not provide comparative financial data or prior period metrics to assess material changes in revenue, profit, or margins. The document serves strictly as a notice of the scheduled distribution payment.
Guidance, Outlook, and Risks
- Outlook: The filing contains no forward-looking guidance or management commentary regarding future performance.
- Ratings: The current credit rating of the underlying Term Assets is not provided in this report. Investors are directed to contact Standard & Poor's or Moody's for current ratings.
- Contingencies: The trustee explicitly states it has not verified the accuracy or completeness of reports filed by the underlying issuer (PECO Energy Company) and makes no assurance that undisclosed events have not occurred that could affect the underlying securities.
Investor Verification Checklist
- Verify the current credit rating of PECO Energy Company's 7.38% Capital Securities due 2028 with rating agencies.
- Confirm the receipt of the $1.00 interest distribution per $25 certificate.
- Review periodic reports filed by PECO Energy Company (File No. 000-16844) for any undisclosed events affecting the underlying assets.
- Note that the trustee has performed no due diligence on the underlying issuer's financial condition.